I dnt see this as a positive....yet again another example of...

I dnt see this as a positive....yet again another example of poor mngt!! They may as well close off the asia business altogether,at another loss to s/h.
So mngts method is to close anything with a COR over a certain threshold and the loyal s/h applaud them...confirms the lack of understanding and lack of ability to tackle that mkt and implement effective governance to drive performance.

If banks, retailers behaved this way, theyd shed half their mkt share. Asia was sold as the growth engine. U need loss drivers to penetrate markets. All companies cross subsidise in growth areas. To lose that much gwp in asia means you will lose marketing in a location that doesnt really know who qbe is. Poor move. Whats left? South pacific storm cover lol!!

Bad mngt. Terrible. With group gwp (emerging mkts >$2bn) gone or in decline, there goes any volume benefits to drive cost efficiencies via commissions. Aons marshes etc wont be so keep to do any discounting...

Yeah, group COR will naturally improve, of course it will with a simple knock the problem children off and keep the good book, but that results in:
Lower group gwp
Lower fum for returns
Lower bargaining power
Zero growth story (emerging mkts gone)
Reputation in tatters

But worst is, whats happening with the fat book? The anz, eu that makes money? Surely existing, new players would naturally gravitate to risk with COR sub 90? If i had tbe helm of a well oiled global insurer, id be circling auz to penetrate the mkt as the likes of suncorp, qbe etc have had it too good. If they can operate at COR under 90, anyone can...

Instead, these muppets shoild havd bought a number two or three in emerging mkts and integrated the underperforming in those. That would right the wrongs of the past of entering fields they knew nothing about and buying a bottom 20 player...

But no, muppet is too scared to spoke the analysts. If they tell him to jump, he says how high...this dude toes tthe line, nothing strategic. Tragic actually...